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sumogr
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March 13, 2018, 03:13:43 PM |
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ASICs for cryptonight were recently announced. How is the Sumo team going to address this issue?
This ASIC (if a 60Watt ASIC really exists) has an output of 20 kH/s. Now bear with me Sumokoin has a global hashrate at the moment of 20 MH/s while its peak was 60 MH/s. Lets use an average of 40 MH/s In order just to double the average total network hashrate of Sumokoin, which is 40,000kH/s, it would take 2,000 ASICs mining Sumokoin only.Each ASIC costs 3600$, which means that people will have to spend 7.2 million dollars to buy ASICs and mine only Sumokoin with them This is 2.3 times more money than the entire Sumokoin current marketcapNow lets talk about Monero, Monero's average total hashrate is 1 GH/s https://www.coinwarz.com/network-hashrate-charts/monero-network-hashrate-chartIn order just to double the average total network hashrate of Monero which is 1,000,000kH/s it would take 50,000 ASICs mining Monero only.Each ASIC costs 3600$ which means that people will have to spend 180 million dollars to buy ASICs and mine only Monero with them. Baikal must produce and sell hundreds upon hundreds of thousand asics for them to have any actual effect on any coin IMHO it would be irresponsible to risk the integrity of the coin for an insufficiently proven threat. EDIT: If an ASIC with an output so large that can potentially affect our network's total hashrate is produced in the future then we will start considering a solution, but that's a hypothetical issue, not a real current one, so we wish to remain focused on improving our coin cryptographically atm. There is not a 60w ASIC, this is a scam, does anyone else see this? Who is selling, will just keep the money and then run away, this world of crypto-coins there are many scams. In the picture they use a basic laptop power supply (usually delivery up to 120w) The multiple connector is probably because they have 3 ASIC motherboard in the ASIC itself so each card will consume 20w (seems low but we are talking ASIC here and the calculation is actualy quite simple) We shall soon find out  |
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JMiner28
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March 13, 2018, 03:58:57 PM |
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You can use Livecoin and Cryptopia.
There is also Tradeogre. Tiny exchange but I am starting to really like it. Lower volume right now but the fees are tiny too. Not a TO shill just a miner trying to pass a tip. I can't trust cryptopia anymore. |
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mrtrevorphilly
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March 13, 2018, 09:24:46 PM |
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Wow, the hashrate is 91.83 MH/s at this very moment, that is insane, given the current SUMO price...
I think we'll soon see some dumps. Nicehash gotta pay its electricity bills, right?!
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sumogr
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March 13, 2018, 09:45:14 PM |
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Wow, the hashrate is 91.83 MH/s at this very moment, that is insane, given the current SUMO price...
I think we'll soon see some dumps. Nicehash gotta pay its electricity bills, right?!
Nope it was a sudden jump of 60 MH/s which can be only a huge botnet trying its luck. As you can see the diff spiked immediately due to our responsive diff algo and there is a delay of the current block which means that the botnet is out already. Within the next couple of blocks hashrate will dramaticaly drop. They ve just managed to mine 1 or 2 blocks and they departed |
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rodyw
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March 14, 2018, 12:08:52 AM |
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Wow, the hashrate is 91.83 MH/s at this very moment, that is insane, given the current SUMO price...
I think we'll soon see some dumps. Nicehash gotta pay its electricity bills, right?!
Nope it was a sudden jump of 60 MH/s which can be only a huge botnet trying its luck. As you can see the diff spiked immediately due to our responsive diff algo and there is a delay of the current block which means that the botnet is out already. Within the next couple of blocks hashrate will dramaticaly drop. They ve just managed to mine 1 or 2 blocks and they departed The last time I checked the difficulty was only around 2G, something I hadn't seen for a while. That was probably just before this spike began. |
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chenjl84
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March 15, 2018, 04:03:41 AM |
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SUMOKOIN please keep the positive feedback and gradual motivation of the community. Attract more investors to participate.
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kampaeros
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March 15, 2018, 04:41:28 AM |
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www.sg-pool.com, a 0% fee mining pool, is still seeking more miners to come and support us! With lowered payouts to 0.2 SUMO, smaller hashrates miners are very welcome! So far we have found 3 blocks and are looking to add more together with you. Still looking for more people to come support and decentralise SUMO network. Pool is still 0% fee. |
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roboadvisorcoin
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Activity: 406
Merit: 10
Daily AI cryptos forecasts
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March 15, 2018, 10:42:44 AM |
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Sumokoin is on the top list of our RoboAdvisor, an artificial intelligence based plattform that offers cryptocurrency news and forecasts. According to our robot's forecasts, Sumokoin has an upside probability of 53.85% for the next month and an expected return of >+30% . Soon we will offer the possibility to bet on the trend of this token. |
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9ine
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March 15, 2018, 10:43:22 AM |
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i like me some sushi
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onionpealer
Jr. Member
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Activity: 238
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March 15, 2018, 12:42:40 PM |
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Wow, the hashrate is 91.83 MH/s at this very moment, that is insane, given the current SUMO price...
I think we'll soon see some dumps. Nicehash gotta pay its electricity bills, right?!
Nope it was a sudden jump of 60 MH/s which can be only a huge botnet trying its luck. As you can see the diff spiked immediately due to our responsive diff algo and there is a delay of the current block which means that the botnet is out already. Within the next couple of blocks hashrate will dramaticaly drop. They ve just managed to mine 1 or 2 blocks and they departed The last time I checked the difficulty was only around 2G, something I hadn't seen for a while. That was probably just before this spike began. Once the Baikal Giant-N hits the market the difficulty will spike and it will stay high for ever more, time to look for a new coin to mine unless SumoKoin finds a way to defeat this ASIC. https://www.baikalminer.com/product12.php |
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crafty
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Bitcore (BTX) - The Future is Now
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March 15, 2018, 01:45:51 PM |
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Buying ASICs to mine and earn is a bad idea imo. Unless you become one of the first ones to get your hands on the hardware, its not worth it. Even if you get in the first batch, ROI drops quickly as diff rapidly increases.
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h0g0f0g0
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March 15, 2018, 02:40:19 PM |
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WTF? Any plans to fork away from ASICs? |
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sumogr
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March 15, 2018, 03:30:33 PM |
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cryptonist
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March 15, 2018, 05:22:31 PM |
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I'd like for the devs to consider differentiating themselves from Monero with this opportunity. Don't use the same logic XMR team is using to fork away, maybe provide a little bit extra to really show how good the team is. If the team simply copies XMR, we'll continue to experience more FUD. Regardless, it is great to see the team is ready to combat ASICs. I was almost considering switching my Vegas to another algo. |
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rodyw
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March 15, 2018, 05:55:18 PM |
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Good to see that a reaction is given so fast. I think a lot of people, including me, was unsure about the future of mining Sumo with GPU's |
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sumogr
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March 15, 2018, 06:14:47 PM |
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Good to see that a reaction is given so fast. I think a lot of people, including me, was unsure about the future of mining Sumo with GPU's We are working on our own tweak as well, aim is to make the algo completely asic resistant (there is a interesting approach on that which we are attempting) and change the gpu to cpu ratio in favor of gpus (to mitigate botnet's impression on the network's hashrate). If we are overrun we fork asap on Monero's tweak (thank you guys by the way, what misled us is the fact each asic manufacturer was using his entire production of asics to harvest. Thus their hashrate had botnet-like behavior on the network) and apply ours on a later date. So everything's good I guess Thank you all for the interest! |
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jpdorn
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March 15, 2018, 10:19:25 PM |
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So, there wont be an open discussion about embrace or not ASIC's by community?
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sumogr
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March 15, 2018, 11:04:19 PM |
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So, there wont be an open discussion about embrace or not ASIC's by community?
So you think we should embrace ASICs? Give me a good reason and I ll give you ten bad ones |
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jpdorn
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March 16, 2018, 03:46:01 AM |
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So, there wont be an open discussion about embrace or not ASIC's by community?
So you think we should embrace ASICs? Give me a good reason and I ll give you ten bad ones My opinion is irrelevant, im talking about sumokoin community; since youre changing algo mining youre automatically creating a new altcoin. |
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